GGF Technical Assistance Facility represented by Finance in Motion GmbH in accordance with a fiduciary agreement under the Luxembourg law on trusts and fiduciary contracts dated 27 July 2003.
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1. General
By submitting an application, the applicant agrees on the Terms and Conditions.
2. Background
The clim@ competition is an initiative of the Green for Growth Fund (GGF).
The GGF helps reduce the use of energy and resources and prevent CO2 emissions. It pursues this goal by providing dedicated financing to businesses and households across 19 markets in the Southeast Europe Region including Turkey, the European Neighborhood Region-East, and the Middle East and North Africa. By using a blended finance structure and working through local partner institutions, the GGF is able to raise awareness and implement green finance activities. The fund combines its financial offering with tailored technical assistance that helps build capacity and which brings energy efficiency measures, renewable energy, and improved resource management toward the mainstream. In addition, by managing the environmental and social (E&S) risks associated with its investments, the fund sets standards for its partners and supports them to enhance their own E&S management systems, as required.
The GGF was initiated as a public-private partnership in December 2009 by Germany’s KfW Development Bank and the European Investment Bank, with financial support from the European Commission, the German Federal Ministry for Economic Cooperation and Development, the European Bank for Reconstruction and Development, and the Austrian Development Bank (OeEB). The fund’s growing investor base comprises donor agencies, international financial institutions and institutional private investors, including the International Finance Corporation, the Dutch development bank FMO, and the German ethical bank GLS. The GGF is advised by Finance in Motion GmbH. MACS Management & Consulting Services GmbH, Frankfurt am Main acts as the technical advisor.
The GGF Technical Assistance Facility plays a key role in supporting the fund’s promotion of energy efficiency, renewable energy and improved resource management by providing tailored advisory to the fund’s partners, which include financial institutions, project developers and key energy sector players, to produce synergy with investments of the fund.
The facility operates hand in hand with the GGF, complementing its investments with the following activities: capacity development of GGF partners; validation and monitoring of energy and resource savings and CO2 emission reductions; strategic advice based on research; increasing the awareness and acceptance of green solutions in the financial sector and among the public.
Managed by impact asset manager Finance in Motion, the facility operates independently from the fund, governed by a fiduciary arrangement under Luxembourg law. The Technical Assistance Facility Committee, which represents the initiators of the fund and donors of the facility, takes all strategic and technical decisions with respect to the facility and provides strategic guidance to the facility manager.
In support of the Fund’s aim to expand innovation and outreach in the GGF Target Partners the GGF TAF is organizing the clim@ competition.
3. Intellectual Property Rights
You confirm by entering the Competition that, to the best of your knowledge, you own all Intellectual Property Rights (“IPRs”) subsisting in your entry to the Competition and that your entry does not infringe any third party’s IPRs. You are responsible for obtaining any necessary permission from third parties to use their IPRs in your submission. We reserve the right to disclose your identity to any third-party claiming material posted or uploaded by you to the Competition Website constitutes a violation of their IPRs, or their confidentiality/privacy rights. We reserve the right to ask for additional evidence or documents to validate that all information you supply is true and complete.
Subject to the terms of this clause, we recognize your ownership of the IPRs subsisting in your entry to the Competition.
4. Procedure
In applying for the competition each applicant agrees that if she/he is selected as a finalist that she/he will participate in the mentoring session, the pitching event and the prize-winner ceremony at the GGF Sustainable Future Forum. This 3-day event will take place in the beginning of June 2020 in Frankfurt, Germany.
Each applicant agrees, if selected as a finalist and or winner to work together with the GGF TAF and its partners to prepare for the mentoring event, pitch and prize event, as well as the GGF Sustainable Future Forum.
All related travel costs (economy class tickets, local travel, visa if applicable and accommodation) will be covered by the GGF TAF.
5. Prizes
The GGF TAF will sponsor and directly award three money prizes: the 1st prize is EUR 15,000, 2nd prize is EUR 10,000, and 3rd prize is EUR 5,000. In addition, 15 finalists will be selected and win a place for a mentoring session and pitch event.
a. The prizes are personal to the winners and not transferable.
b. The winners are responsible for the payment of any taxes and charges arising on the prize
c. The use of the prize money needs to be related to the winning projects.
d. The winners will provide oversight of the use of the prize money.
6. Changes and Competition Cancellation
We may cancel the Competition or vary these Terms and Conditions at any time at our discretion. We will post any changes to these Terms and Conditions on the Competition Website.
b. We reserve the right to suspend the Competition at any time and to change the form and substance, dates for deadlines and events, locations or specification of the Competition and/or Prize.
c. We reserve the right not to award the Prize.
7. No Show from Participants
In case we reserve the tickets and accommodation for a finalist and they do not attend the event, the finalists is obliged to refund to the GGF TA Facility the cancellation charges (which can be up to the full amount in case of last-minute cancellations or no show), within 30 days of the event.
Extraordinary circumstances preventing the participant from attending are exempt from this condition (if the participant provides the GGF TA Facility with satisfactory proof of such circumstances).
8. Personal Data
Unless stated otherwise, information (including personal information) submitted in any entry may be processed and utilized by GGF and its partners. By submitting your entry to the Competition, you give us permission to use the information provided by you in your entry and during your participation in the Competition (including your personal details, logos, videos and photos uploaded by you and taken during events) for the purposes of administering and judging the Competition, for any purpose connected to the Competition and for promotional purposes. We may share this information with our Jury members, our partners, and anyone who is involved in the Competition.
9. Disclaimer
There is no claim to an award or regarding the participation in this competition. Moreover, in case the applicant has made false statements for the purpose of registration and/or in the application form and/or has contravened these terms and conditions funding can be reclaimed.
10. Governing Law and Jurisdiction
These Terms and Conditions shall be governed by and construed in accordance with the German law. Any dispute arising under these Terms and Conditions shall be subject to the exclusive jurisdiction of the German courts. By entering the Competition, you agree to submit to the German laws, regardless of your country of establishment or residence.